题目
52 On November 1, $1000 worth of work on task A was supposed to have been done (BCWS); however, the BCWP was $850. Calculate the schedule variance:
A. ($100)
B. $100
C. ($150)
D. $150
E. 85%
第1题
Cinola Island, Wonderland plc operates a circus and zoological gardens (zoo) both of which are open for 365 days
per annum. The circus, which is widely regarded as the best in the world, can accommodate a maximum of 14,000
visitors per day. The zoological gardens, which opened on 1 December 1999, can accommodate a maximum of
20,000 visitors per day. Visitors travel to and from Cinola Island using petrol-driven ferries owned by Wonderland plc.
There is no other mode of transport to and from Cinola Island.
The following information is available in respect of the year ended 30 November 2006 and the year ending
30 November 2007.
(1) The zoo and circus were open on each day of the year. The circus performed once per day and was always
operated at maximum capacity.
(2) Three types of ticket were sold as follows:
Note: The petrol-driven ferries were fully depreciated as at 1 December 2006.
(7) Wonderland plc received an annual fee of £10 million from an International media group under a fixed-term
contract of three years’ duration. The contract commenced on 1 December 2005 and relates to the rights to
televise programmes which were filmed in the zoo and therefore the fee should be regarded as relating to the
zoo.
(8) Admission fees to the zoo and circus will be increased by 5% with effect from 1 December 2006. Transport fees
will remain unchanged.
(9) It is anticipated that all operating costs will increase by 4% per annum due to the impact of inflation during the
year ending 30 November 2007.
(10) The management of Wonderland plc expect that the number of visitors, visitor mix and ticket mix will remain
unchanged during the year ending 30 November 2007.
(11) Ignore taxation.
Required:
(a) Prepare the budgeted profit and loss account for Wonderland plc for the year ending 30 November 2007.
(9 marks)
第2题
第3题
2005. The financial statements were authorised on 12 December 2005. The following events are relevant to the
financial statements for the year ended 31 October 2005:
(i) Ryder has a good record of ordinary dividend payments and has adopted a recent strategy of increasing its
dividend per share annually. For the last three years the dividend per share has increased by 5% per annum.
On 20 November 2005, the board of directors proposed a dividend of 10c per share for the year ended
31 October 2005. The shareholders are expected to approve it at a meeting on 10 January 2006, and a
dividend amount of $20 million will be paid on 20 February 2006 having been provided for in the financial
statements at 31 October 2005. The directors feel that a provision should be made because a ‘valid expectation’
has been created through the company’s dividend record. (3 marks)
(ii) Ryder disposed of a wholly owned subsidiary, Krup, a public limited company, on 10 December 2005 and made
a loss of $9 million on the transaction in the group financial statements. As at 31 October 2005, Ryder had no
intention of selling the subsidiary which was material to the group. The directors of Ryder have stated that there
were no significant events which have occurred since 31 October 2005 which could have resulted in a reduction
in the value of Krup. The carrying value of the net assets and purchased goodwill of Krup at 31 October 2005
were $20 million and $12 million respectively. Krup had made a loss of $2 million in the period 1 November
2005 to 10 December 2005. (5 marks)
(iii) Ryder acquired a wholly owned subsidiary, Metalic, a public limited company, on 21 January 2004. The
consideration payable in respect of the acquisition of Metalic was 2 million ordinary shares of $1 of Ryder plus
a further 300,000 ordinary shares if the profit of Metalic exceeded $6 million for the year ended 31 October
2005. The profit for the year of Metalic was $7 million and the ordinary shares were issued on 12 November
2005. The annual profits of Metalic had averaged $7 million over the last few years and, therefore, Ryder had
included an estimate of the contingent consideration in the cost of the acquisition at 21 January 2004. The fair
value used for the ordinary shares of Ryder at this date including the contingent consideration was $10 per share.
The fair value of the ordinary shares on 12 November 2005 was $11 per share. Ryder also made a one for four
bonus issue on 13 November 2005 which was applicable to the contingent shares issued. The directors are
unsure of the impact of the above on earnings per share and the accounting for the acquisition. (7 marks)
(iv) The company acquired a property on 1 November 2004 which it intended to sell. The property was obtained
as a result of a default on a loan agreement by a third party and was valued at $20 million on that date for
accounting purposes which exactly offset the defaulted loan. The property is in a state of disrepair and Ryder
intends to complete the repairs before it sells the property. The repairs were completed on 30 November 2005.
The property was sold after costs for $27 million on 9 December 2005. The property was classified as ‘held for
sale’ at the year end under IFRS5 ‘Non-current Assets Held for Sale and Discontinued Operations’ but shown at
the net sale proceeds of $27 million. Property is depreciated at 5% per annum on the straight-line basis and no
depreciation has been charged in the year. (5 marks)
(v) The company granted share appreciation rights (SARs) to its employees on 1 November 2003 based on ten
million shares. The SARs provide employees at the date the rights are exercised with the right to receive cash
equal to the appreciation in the company’s share price since the grant date. The rights vested on 31 October
2005 and payment was made on schedule on 1 December 2005. The fair value of the SARs per share at
31 October 2004 was $6, at 31 October 2005 was $8 and at 1 December 2005 was $9. The company has
recognised a liability for the SARs as at 31 October 2004 based upon IFRS2 ‘Share-based Payment’ but the
liability was stated at the same amount at 31 October 2005. (5 marks)
Required:
Discuss the accounting treatment of the above events in the financial statements of the Ryder Group for the year
ended 31 October 2005, taking into account the implications of events occurring after the balance sheet date.
(The mark allocations are set out after each paragraph above.)
(25 marks)
第4题
第5题
A.A.
B.B.confirm
C.C.confirming
D.D.conform
E.E.confirmed
第7题
A.confirm
B.confirming
C.conform
D.confirmed
第8题
第9题
A. rose
B. have risen
C. rising
D. rise
第10题
(b) Ambush loaned $200,000 to Bromwich on 1 December 2003. The effective and stated interest rate for this
loan was 8 per cent. Interest is payable by Bromwich at the end of each year and the loan is repayable on
30 November 2007. At 30 November 2005, the directors of Ambush have heard that Bromwich is in financial
difficulties and is undergoing a financial reorganisation. The directors feel that it is likely that they will only
receive $100,000 on 30 November 2007 and no future interest payment. Interest for the year ended
30 November 2005 had been received. The financial year end of Ambush is 30 November 2005.
Required:
(i) Outline the requirements of IAS 39 as regards the impairment of financial assets. (6 marks)
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